Borosil aims to generate Rs 500 crore in revenue by 2025, fuelled by scientific business growth

Glassware brand Borosil is looking to reach Rs 500 crore in revenue by 2025, driven by a consistent year-on-year growth rate of 16–17%, with a significant contribution from its growth driver segments -pharma packaging, laboratory benchtop equipment and process sciences.

Borosil’s Scientific and Industrial Products Division is witnessing growth in the field of laboratory glassware, catering to diverse sectors that include pharmaceuticals, research and development, education, and healthcare. In India, Borosil is a known brand for its 3.3 low-expansion laboratory glassware, capturing a significant market share of over 67%.  

Pharmaceutical analytical laboratories rely heavily on Borosil's calibrated glassware for precise sample preparation and complex analytical techniques, including liquid chromatography and mass spectrometry. In recent years, the Scientific and Industrial Products business of Borosil has been diversifying its growth strategies, aiming to reduce its dependency on the modestly growing Rs 300 crore laboratory glassware market.   

“In the past year, Borosil achieved Rs 320 crore in revenue, and our target for 2025 is Rs 500 crore, with a steady year-on-year growth rate of 16-17%. We are actively expanding our presence in the pharmaceutical industry, and our brand value has received widespread recognition across the country,” said Vinayak Patankar, Chief Operating Officer (COO) at Borosil.   

Advanced sample preparation methods are now enabling multiple analyses, creating a burgeoning market for new equipment and complex process systems. Borosil has transitioned from being a glassware manufacturer to becoming a solutions provider for laboratory and product needs, offering innovative digital solutions such as QR-coded volumetric glassware that seamlessly integrates with systems like Laboratory Information Management Systems (LIMS).  

Borosil's growth isn't limited to the domestic market; it has been actively expanding its product portfolio in regions such as North America, the Middle East, Europe, Southeast Asia, and Africa.   

The company is also capitalising on the rapid growth and increased government investments in industries like chemicals and active pharmaceutical ingredients (APIs), the core pharmaceutical components that make up the active part of a medication and are responsible for producing the intended therapeutic effect in patients.  

“Internationally too, the scientific ware division is poised for significant growth. Our strongest foothold is in the United States, closely followed by the Middle East, Africa, and Southeast Asia,” said Patankar. “We are also actively expanding into markets in Greece, Albania, Italy, Switzerland, Malaysia, the Philippines, Cambodia, and various other regions,” he said.   

This increased government investment has led to greater automation and digitization within these industries, resulting in significantly improved production efficiency and a substantial surge in testing and analysis.   

The company has identified three core pillars for growth, including benchtop instruments under the LabQuest by Borosil brand, primary packaging glass vials and ampoules for the pharmaceutical industry through KlassPack, and an expansion into international markets for laboratory glassware and analytical vials and the third pillar being process sciences. Additionally, the company has ventured into the filter paper product category to meet the evolving needs of both existing and new laboratory customers.   

LabQuest, as part of Borosil's offerings, specialises in laboratory instruments and equipment, while KlassPack focuses on pharmaceutical primary packaging solutions, notably glass vials and ampoules for injectable pharmaceutical products.   

“Borosil is committed to leveraging technology for growth and expansion. We are actively seeking opportunities to acquire companies in the laboratory equipment and industrial glass equipment sectors. Currently, 20% of our revenue comes from international markets, and we have ambitious plans to increase this share to 50% over the next five years by focusing on our international market expansion,” said Patankar.

“Our emphasis remains on profitability, and we strongly support the "Make in India" initiative, especially as the manufacturing landscape in China is facing challenges,” said Patankar.  

“The company said that KlassPack is now exploring opportunities in pre-filled syringes, cartridges, and siliconised vials, with expectations of growth in both domestic and export markets,” he said.  

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